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Sep 19, 2013
09/13
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brian kelly, the debt ceiling. you got different ramifications on the debt ceiling. it did affect the stock market in 2011. they have to get through this in the next two weeks. first two weeks the cr and treasury department now saying october. if the debt ceiling doesn't get raised what happens? >> i think if the debt ceiling doesn't get raised, or if we get some sort of grand bargain which it doesn't seem we're close to that but let's say we do, i think that's a negative for the stock market because if you don't have the debt ceiling raised or you get a grand bargain you've put a permanent fiscal ceiling. >> what kind of grand bargain are your thinking about? >> anything that caps fiscal spending. i'm not advocating one way or the other. i'm talking about market perspective. >> that's so bullish for the economy. >> listen -- >> you sound like ben bernanke. he's afraid of spending cuts. >> you have to separate economics from the financial markets. the financial markets have not priced in any type of agreement. the financial markets are betting the fact that there wil
brian kelly, the debt ceiling. you got different ramifications on the debt ceiling. it did affect the stock market in 2011. they have to get through this in the next two weeks. first two weeks the cr and treasury department now saying october. if the debt ceiling doesn't get raised what happens? >> i think if the debt ceiling doesn't get raised, or if we get some sort of grand bargain which it doesn't seem we're close to that but let's say we do, i think that's a negative for the stock...
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Oct 16, 2013
10/13
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the debt ceiling. i think it's a negative if we don't have a little messiness because we're kicking the biggest campbell's soup can down the road and that seems to be the biggest norm. >> as he said. >> thanks, everybody. >> it occurs to me, there's this inverse relationship that's developed. wall street is near an all-time high as washington hits a new all-time low, don't you think? quite an arbitrage. headed to the close with 50 minutes left. art cashin was signaling we have a slight upward buy. not huge. would he keep an eye on it with the dow up 157 points. >> we'll get the take of our next guest, how is blackrock ceo larry fink dealing with the dysfunction in d.c.? here's here in an exclusive coming up. >> all eyes may be on washington but we're not forgetting about key earnings reports. ibm coming out tonight, ebay, american express also. we'll have instant analysis and reaction to all those numbers later on the "closing bell." in today's markets, a lot can happen in a second. with fidelity's gua
the debt ceiling. i think it's a negative if we don't have a little messiness because we're kicking the biggest campbell's soup can down the road and that seems to be the biggest norm. >> as he said. >> thanks, everybody. >> it occurs to me, there's this inverse relationship that's developed. wall street is near an all-time high as washington hits a new all-time low, don't you think? quite an arbitrage. headed to the close with 50 minutes left. art cashin was signaling we have...
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Sep 30, 2013
09/13
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. >> debt ceiling, the ceiling, the ceiling. >> the debt ceiling -- >> during that so-called crisis, and shortly there after, even after the downgrade if i may add to melissa's point. long-term traits on u.s. treasury bonds and notes fell. it was the stock market got clobbered mostly abuse of europe. how important is this, austan. i think it would be very important. city one is the shutdown and if there is a shutdown the one effective thing that could come out of it is that right now both sides think that they have got the american people at their back and that the wind is blowing their own sail, so if this shutdown led voters to stop paying no attention and make up their mind which way they want to do it, i think we wouldn't see a crisis on the debt ceiling or on the shutdown. one or the other side will sort it out. right now they just don't know which side they are on. >> just before austan goolsbee made a shocking statement that i want you to follow up on, he said he believes we should not have any debt ceiling, and if you ask me we should have strict spending limits. is this like
. >> debt ceiling, the ceiling, the ceiling. >> the debt ceiling -- >> during that so-called crisis, and shortly there after, even after the downgrade if i may add to melissa's point. long-term traits on u.s. treasury bonds and notes fell. it was the stock market got clobbered mostly abuse of europe. how important is this, austan. i think it would be very important. city one is the shutdown and if there is a shutdown the one effective thing that could come out of it is that...
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Apr 17, 2023
04/23
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we moved the debt ceiling into next year. if the president doesn't want to take action, we'll send it to the senate. >> there's an appropriations committee and budget for all of this the fiscal year ends in september. why not deal with spending cuts and negotiate with the president there? why negotiate over the debt ceiling, which is much more dangerous? >> it's not dangerous at all, especially when you sit down on february 1st the budget is different than a debt ceiling it's not like a state capital. the budget never goes to the president. for the president to do a budget doesn't make sense you want to sit down with the debt ceiling, just as america has done when president biden was senator, four times he voted to increase debt ceiling only if it included fiscal changes. the only time he voted against it was because he said there wasn't enough fiscal change. a debt ceiling is like giving your child a credit card and they charge the limit all the way up would you raise the limit? >> if it meant with america standing in full f
we moved the debt ceiling into next year. if the president doesn't want to take action, we'll send it to the senate. >> there's an appropriations committee and budget for all of this the fiscal year ends in september. why not deal with spending cuts and negotiate with the president there? why negotiate over the debt ceiling, which is much more dangerous? >> it's not dangerous at all, especially when you sit down on february 1st the budget is different than a debt ceiling it's not...
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Jun 7, 2017
06/17
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so we're -- we're going to address the debt ceiling before we hit the debt ceiling. we're -- yeah, before it hits. so naturally, the treasury secretary should be in charge of the debt limit because it's the treasury secretary who runs the numbers who runs the levers that control the flow of us paying our debts. so the treasury secretary is and should always be the person in charge of debt limit negotiations, debt limit legislation. that's the natural thing. every treasury secretary is in charge of that. clearly, the treasury secretary wants us to do it earlier than later. that's what every treasury secretary says and should be saying. we'll work with them on this. we're having discussions on how to handle it before we hit the debt limit. >> [ indiscernible ]. >> i'm not going to negotiate with myself and the media. we'll have the discussions and find the best way forward. we'll come one a solution. >> [ indiscernible ]. >> i'm not going to get into it. i'm not foreclosing any option at this time. we're having these discussions with democrats and the other side of the
so we're -- we're going to address the debt ceiling before we hit the debt ceiling. we're -- yeah, before it hits. so naturally, the treasury secretary should be in charge of the debt limit because it's the treasury secretary who runs the numbers who runs the levers that control the flow of us paying our debts. so the treasury secretary is and should always be the person in charge of debt limit negotiations, debt limit legislation. that's the natural thing. every treasury secretary is in charge...
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May 22, 2023
05/23
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ceiling >> the debt ceiling is looming. is the fed seeing a pause or is there a hike on friday, jay powell sounded less hawkish does that change your thought about u.s. equities? >> a little bit. there are always ideas and companies to invest in the market you have to be focused on specific things like cash flow and balance sheets and how a company will perform in an inflationary environment the fed is less hawkish. we are pricing in a 20% chance of rate hike in june again, we still have inflation around 5%. i do think that if inflation doesn't come down, the fed could revert back to, you know, raising interest rates consistently i think that is what is creating some potential pause in u.s. equity markets there are always ideas out there. again, when we look at individual companies, we can always find good opportunities. >> ben, jay powell was focused on the banking crisis. is that now on par with inflation or is inflation the biggest driver to what the market thinks with what the fed may do >> this shows resilience and sti
ceiling >> the debt ceiling is looming. is the fed seeing a pause or is there a hike on friday, jay powell sounded less hawkish does that change your thought about u.s. equities? >> a little bit. there are always ideas and companies to invest in the market you have to be focused on specific things like cash flow and balance sheets and how a company will perform in an inflationary environment the fed is less hawkish. we are pricing in a 20% chance of rate hike in june again, we still...
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May 19, 2023
05/23
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it is time to trim and markets are lower on reports that debt ceiling talks have stalled. this as joe biden attends the g7 in japan and one of our guests says it's the biggest economic threat not just for the u.s., but for u.s. allies. we have the latest and we begin with the markets, of course, and dom chu >> and we slowed some momentum down because of those headlines regarding the debt ceiling and everything else, john. right now it's red across the screen we went from fractional gains to fractional losses. dow is 75 points lower the s&p 500 is now pushing 4200, and it got above there at one point today, but now below that, by about six points. now, just to put this in context, the highs, we were up about 14 points, at the lows, down 18. so trying to find the middle of that trading range the nasdaq, down 1/3 of 1% 12,650 the last trade. john mentioned the headlines around the debt ceiling and lawmakers on the republican sidewalking out saying the president is being unreasonable with their demands that particular set of headlines did drive some down side to the markets ov
it is time to trim and markets are lower on reports that debt ceiling talks have stalled. this as joe biden attends the g7 in japan and one of our guests says it's the biggest economic threat not just for the u.s., but for u.s. allies. we have the latest and we begin with the markets, of course, and dom chu >> and we slowed some momentum down because of those headlines regarding the debt ceiling and everything else, john. right now it's red across the screen we went from fractional gains...
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Dec 17, 2012
12/12
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. >>> a bold move by the fed seemingly no moves at all when it comes to the debt ceiling and debt issues. two big stories. what do they mean and what happens next? joining me now is bob nardelli, former ceo of home depot, former chairman of chrysler, and president of the private equity firm x lr-8. >> thank you. >> as a businessman, what is your take on the fiscal cliff issue? how do you think these negotiations end? >> well, i mean there, is so much speculation out there and such a broad range of opinions. i guess if i had to predict, i would say we probably will not reach agreement and there is a high probability we will go over the cliff, and the impact of that, the repercussions i think are catastrophic. >> that is the thing. we hear this from everybody if we go over the fiscal cliff it will trigger layoffs and trigger the possibility that the economy goes back into recession. in 2013, but the rhetoric again is ratcheting up between house speaker john boehner, senate majority leader harry reid, even though boehner met with the president again this past week, they are stuck on the sac
. >>> a bold move by the fed seemingly no moves at all when it comes to the debt ceiling and debt issues. two big stories. what do they mean and what happens next? joining me now is bob nardelli, former ceo of home depot, former chairman of chrysler, and president of the private equity firm x lr-8. >> thank you. >> as a businessman, what is your take on the fiscal cliff issue? how do you think these negotiations end? >> well, i mean there, is so much speculation out...
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Dec 28, 2012
12/12
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is going to want a trillion dollar debt ceiling increase because of the debt he's running up. that kind of spending restraint is exactly the kind of thing we need to do in the future for any debt ceiling increase period. >> okay. and as you see there, bob corker will join "the squawk pox" gang on monday morning. grover, always good to see you, thank you. >> thank you very much. >> president obama, congressional leaders meeting at the white house to avoid the fiscal cliff. we'll bring you the latest developments on that any minute now. >> also, we'll check up on health care, one of the year's best performing sectors. we'll find out if it's going to run out of steam in the new year and name some names for you coming up. >> and later on, big sky, big jump in estate taxes if congress fails to reach a deal on the cliff. we'll talk to a montana rancher who is pretty upset. coming up, montana's governor brian schweitzer is going to weigh in. >> looks like the meeting may have broken up. there goes nancy pelosi, and we are told now house speaker boehner may have already left, and, no,
is going to want a trillion dollar debt ceiling increase because of the debt he's running up. that kind of spending restraint is exactly the kind of thing we need to do in the future for any debt ceiling increase period. >> okay. and as you see there, bob corker will join "the squawk pox" gang on monday morning. grover, always good to see you, thank you. >> thank you very much. >> president obama, congressional leaders meeting at the white house to avoid the fiscal...
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Jan 7, 2013
01/13
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we've got the debt ceiling debt bait coming. peter, what's your take? >> well, i think the debt ceiling, we've been through that before -- once before. this second time i think it's going to be actually maybe too much to say a piece of cake, but we've seen it before and i think that we will sail through that. and earnings, i'm looking at earnings to be probably sideways this past quarter. going into 2013 i think it's going to be one heck of a year. >> you mean a strong year? >> yes. strong. >> and you think stocks react to that? >> i do. i think they will react very strongly. i think there's a lot of risk, uncertainty out there. but on top of that, i think you will see stock buybacks. and i also still think you will see some dividend increases which are great for investors. >> brian, do you think it's going to be a piece of cake the debt ceiling discussions? >> what? >> that's what he said. >> this has been a market place that since 2007, 2008, that reacts to every little sound bite. we're going to see some volatility during every time of situation or n
we've got the debt ceiling debt bait coming. peter, what's your take? >> well, i think the debt ceiling, we've been through that before -- once before. this second time i think it's going to be actually maybe too much to say a piece of cake, but we've seen it before and i think that we will sail through that. and earnings, i'm looking at earnings to be probably sideways this past quarter. going into 2013 i think it's going to be one heck of a year. >> you mean a strong year?...
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Dec 10, 2009
12/09
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>> i don't think we should vote on another debt ceiling until we deal with the debt because we'll just get another debt ceiling eight or nine months afterward, and then we'll get another one, and the reason is, we haven't done anything to control the rate of the growth of our debt. until we put in place something that's going to say, hey, let's slow down, take a look at how we're dealing with this, if you can't put in a mechanism. the responsible thing is all about, make sure be do something about the debt so these debt ceiling votes. >> i think the public is having a disconnect, because the same time you want to solve the long term. so yesterday they threatened to downgrade the us aaa rating. one said we would need a high rate and how are you going to deal with the revenue side, sir. >> many of us believe we have to have fundamental tax reform. larry, this may be a place where we agree. our tax system is totally out of date. by my recollection, we're only cleking six of whaf ought to be held. oufr tax system was written at a time when that wasn't a consideration. we need a more tisht
>> i don't think we should vote on another debt ceiling until we deal with the debt because we'll just get another debt ceiling eight or nine months afterward, and then we'll get another one, and the reason is, we haven't done anything to control the rate of the growth of our debt. until we put in place something that's going to say, hey, let's slow down, take a look at how we're dealing with this, if you can't put in a mechanism. the responsible thing is all about, make sure be do...
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Apr 27, 2023
04/23
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on the bearish side you look at the economy, the internals are starting to weaken and the debt ceiling. debt ceiling, i think, will resolve -- we'll hem and haw about it for the next six weeks, but eventually we'll get past that and it won't be the disaster that it could be. >> you mentioned the six-month thing, and you looked at -- i think it's 13 instances six months without hitting a new low. >> right. >> in 12 of them -- >> at that six-month point, 12 times a year later, 6 and 12 months later you were higher 12 out of 13 times. what we're seeing in the first months of the year is the buy the dip trade has come back. the s&p on a down day is up 25 basis points on average so far this year. you look at the first four months of every other year since world war ii, every other year you were higher with a median gain of 14%. there's certainly things to be concerned about in the short term here, but over the longer term, i think we will get through this period of uncertainty and stalemate and resolve it bullishly. >> part of it has to do with the fed, a really big part you study the histo
on the bearish side you look at the economy, the internals are starting to weaken and the debt ceiling. debt ceiling, i think, will resolve -- we'll hem and haw about it for the next six weeks, but eventually we'll get past that and it won't be the disaster that it could be. >> you mentioned the six-month thing, and you looked at -- i think it's 13 instances six months without hitting a new low. >> right. >> in 12 of them -- >> at that six-month point, 12 times a year...
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Sep 27, 2013
09/13
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that means a debt ceiling breach is more likely. i would say a government shutdown is bullish at this point for markets. >> you think it's bullish for markets? >> yeah. i think it means there's less chance of a debt ceiling crisis. i think if you punt this off to the debt ceiling in a couple of weeks or months, then you get more of a crisis. you get a situation where republicans say we're not voting to raise the debt ceiling unless you give us something on obama care or spending cuts. when the white house says they won't negotiate, they're seri serious. they'll say, you're one half of one congress, but we'll shut down the top priority because you refuse to raise the debt ceiling and blow up the economy. that wouldn't happen. >> josh? >> i think the odds of a debt ceiling crisis where an actual payment is missed is still close to zero. i think most republicans are very afraid of having a shutdown like that that they'll get blamed for any negative economic consequences that ensue. so even though a lot of people in the house are spoili
that means a debt ceiling breach is more likely. i would say a government shutdown is bullish at this point for markets. >> you think it's bullish for markets? >> yeah. i think it means there's less chance of a debt ceiling crisis. i think if you punt this off to the debt ceiling in a couple of weeks or months, then you get more of a crisis. you get a situation where republicans say we're not voting to raise the debt ceiling unless you give us something on obama care or spending...
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Aug 24, 2017
08/17
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debt ceiling to the resolution, we can do a bipartisan agreement with the cr and debt ceiling we can add children's health to the debt ceiling there are a number of options. i believe we will choose one of those vehicles we must do this. i suspect it's going to be done well before september 30th >> i was struck, congress pap, by these remarks by senator graham telling hugh hewitt republicans should make democrats say no, to funding the truth, to helping veterans, i don't know why we don't do that. he says he thinks that's what the president is saying. are we headed down that road >> i hope not. i hope in the vain that charles talked about, i think these one of the few people that are willing to speak up in fairness and mod moderation and reaching out to the other side. he not only talks about it he does it charlie dent is a great guy. she a great republican she a great representative because he's gone beyond, i think. i can't speak for him, of course, but he's gone beyond the tax cuts of 2001 and 2003. we saw what trickle down economics did to this economy primarily leading to the ca
debt ceiling to the resolution, we can do a bipartisan agreement with the cr and debt ceiling we can add children's health to the debt ceiling there are a number of options. i believe we will choose one of those vehicles we must do this. i suspect it's going to be done well before september 30th >> i was struck, congress pap, by these remarks by senator graham telling hugh hewitt republicans should make democrats say no, to funding the truth, to helping veterans, i don't know why we don't...
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Dec 18, 2012
12/12
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what he worried about was the debt ceiling. the debt ceiling is a downgrade. the debt ceiling is a 1,000-point selloff in the stock market. that's the key. what do you hear? >> i don't believe that the administration is going to negotiate over the debt ceiling now or a year from now. i think that they are simply not going to let congress take that hostage and screw up the economy now or -- >> it is a rare pleasure, really, to have jared bernstein and jim pethokoukis both sitting on the set with me. two of the smartest guys and nicest guys. >>> fiscal cliff aside, i am genuinely worried about one key part of the economy. i have striking numbers to show you up on the board. and we will be right back with that news. >>> welcome back to "the kudlow report." here's my quick take on some of these manufacturing slump numbers that i don't like. housing is getting better. manufacturing is not. let's start out with today's release. the new york empire state manufacturing index, boom, boom, boom, here it is it may not be the end-all, be-all. but it is very important. thi
what he worried about was the debt ceiling. the debt ceiling is a downgrade. the debt ceiling is a 1,000-point selloff in the stock market. that's the key. what do you hear? >> i don't believe that the administration is going to negotiate over the debt ceiling now or a year from now. i think that they are simply not going to let congress take that hostage and screw up the economy now or -- >> it is a rare pleasure, really, to have jared bernstein and jim pethokoukis both sitting on...
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Sep 20, 2013
09/13
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there's a long history of that, certainly with the debt ceiling because the debt ceiling vote is one that we have to pass to run the full faith and credit of the government. so ultimately i think president obama will negotiate. let me just say, dr. winstrop over there is currently serving in the military. i'm an ex-military army veteran and served overseas. neither one of us got elected to shut the government down. we got elected to run the country. that's what i got elected to do and what the people in tennessee sent me to do. it's the president talking about a shutdown. today we just sent a bill to the senate to look at and evaluate, larry. >> i get that. but, brad, let me go to you. obama said also on the stump today that you all are just messing with me. you're messing with me. and then he said, this will become a banana republic if we don't get the debt ceiling through and if obama care is defunding. so you're messing with me and a banana republic. what is your reaction to that? >> i think that my constituents feel like the president is messing with them. we see businesses shutt
there's a long history of that, certainly with the debt ceiling because the debt ceiling vote is one that we have to pass to run the full faith and credit of the government. so ultimately i think president obama will negotiate. let me just say, dr. winstrop over there is currently serving in the military. i'm an ex-military army veteran and served overseas. neither one of us got elected to shut the government down. we got elected to run the country. that's what i got elected to do and what the...
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May 25, 2023
05/23
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that has a debt ceiling and i don't know of any emerging market sovereign has a debt ceiling either so, the debt ceiling in the united states is unique. and, of course, it creates problems because of the fact that congress ultimately with the administration is responsible for fiscal policy. and what the debt ceiling is now doing because the government's running up against it is saying, well, even though we took the decision on how we were going to spend our money yesterday or last year or the year before, the debt ceiling is binding. so, i think it's a needless irritant there's no evidence whatsoever empirically it has had any long-term effect on the public finances of the united states in terms of -- and that shows up as i mentioned before in terms of the continuously rising debt burden of the u.s. >> yeah. it sounds like what you're saying is even though we might get an agreement in principle, even though we might get some kind of vote even on this in the coming week, the danger of the downgrade doesn't just dissipate because of that. >> no. that's why some people couldn't underst
that has a debt ceiling and i don't know of any emerging market sovereign has a debt ceiling either so, the debt ceiling in the united states is unique. and, of course, it creates problems because of the fact that congress ultimately with the administration is responsible for fiscal policy. and what the debt ceiling is now doing because the government's running up against it is saying, well, even though we took the decision on how we were going to spend our money yesterday or last year or the...
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Oct 9, 2013
10/13
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the debt ceiling would be raised. it was abolished by newt gingrich in 1985. joining me now is dick gephardt, ceo of the gephardt group for government affairs. dick gephardt, great to have you back on the program. thanks for joining us. >> good to be with you. >> let's talk about solutions here. what do you think? should we go back to the gephardt rule? how do you see this mess playing out? >> well, maria, you can never go back. you've got to go forward. i don't think that's anything that's going to happen. actually, the fact that the republicans have been invited to the white house, i think, is a great step. at the end of the day, you know, you've got to talk to all the members. i got involved with the debt limit back in 1979. i was a new member. tip o'neill said, you look like an energetic young guy. we need somebody to carry out the trash. that's how he saw the debt limit. and so i had to go out and get the votes. all the members knew they had to vote for it, but they didn't want to vote for it because they knew it
the debt ceiling would be raised. it was abolished by newt gingrich in 1985. joining me now is dick gephardt, ceo of the gephardt group for government affairs. dick gephardt, great to have you back on the program. thanks for joining us. >> good to be with you. >> let's talk about solutions here. what do you think? should we go back to the gephardt rule? how do you see this mess playing out? >> well, maria, you can never go back. you've got to go forward. i don't think that's...
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May 11, 2023
05/23
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between now and memorial day it's all about the debt ceiling. when congress heads on recess, that's the deadline, earlier than janet yellen's june 1st deadline the market's hanging in. both parties are still talking they're making progress. that's a positive sign. >> are you worried about the debt ceiling impact on the market and at what point does the market care? >> i think it's exceedingly unlikely we have any sort of issue around the debt ceiling. the debt ceiling has been raised or amended over 100 times since world war ii you may get some volatility here over the next few weeks. what i don't -- we have to kick the can down the road to deal with this again in the fall. i think you get a deal before me me memorial day >> we had a analyst from jpmorgan saying we're going back to 3,500 lows. you don't see that >> i think any volatility around the debt or anything over the summer and we get information that the economy is slowing, that's the opportunity for long-term vinvestors. >> you like the u.s. over anywhere in the world despite calls for
between now and memorial day it's all about the debt ceiling. when congress heads on recess, that's the deadline, earlier than janet yellen's june 1st deadline the market's hanging in. both parties are still talking they're making progress. that's a positive sign. >> are you worried about the debt ceiling impact on the market and at what point does the market care? >> i think it's exceedingly unlikely we have any sort of issue around the debt ceiling. the debt ceiling has been...
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Jan 19, 2017
01/17
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debt ceiling? >> i will commit to absolutely work with the congress, the house and the senate so that we don't get to the last minute and run out of money. >> is that a yes? you will commit to passing a clean debt ceiling? >> i don't know your technical issue of what a clean debt ceiling -- >> the debt ceiling? >> but let me be clear. i would like us to raise the debt ceiling sooner rather than later. >> that's fair enough for me. thank you. >> we don't run a risk of -- defaulting -- >> i'm grateful for that answer. >> thank you. >> the nonpartisan tax found that the president-elect's trump tax plan would increase over ten years. president-elect has also proposed increasing defense spending and want he would not touch entitlements like medicare or social security. so far only suggested reducing spending on nondiscretionary spending. in 2015, nondefense discretionary spending comprised $583 million. this includes funding for veterans' benefits, transportation, our national parks and our investments
debt ceiling? >> i will commit to absolutely work with the congress, the house and the senate so that we don't get to the last minute and run out of money. >> is that a yes? you will commit to passing a clean debt ceiling? >> i don't know your technical issue of what a clean debt ceiling -- >> the debt ceiling? >> but let me be clear. i would like us to raise the debt ceiling sooner rather than later. >> that's fair enough for me. thank you. >> we don't...
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Feb 13, 2019
02/19
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hands on doing something to raise the debt ceiling we'll hit the debt ceiling or the debt ceiling returns in march. the treasury can do a lot of moving money around so it probably won't be a crisis until late summer. that's when they'll need an increase to keep the government current on its obli gations, and it's likely to be one of those flash points but if recent history is any indication, they'll go right up to the edge. a lot of nervousness and noise and then raise the debt ceiling. >> did we miss a payment last time >> no. >> we got very, very close but never missed a payment >> no, not in recent times >> we'll see what happens this time around. let's talk about the deficit which is rising at the same time is that more of a structural issue? it ballooned back during the financial crisis and then started to narrow. when the cbo says we'll have trillion-dollar deficits in 2022 is that because even with stronger growth we still can't bring that level down? >> correct basically we have -- we had a big tax cut. it's adding to the deficit now that seems untimely given how strong the econom
hands on doing something to raise the debt ceiling we'll hit the debt ceiling or the debt ceiling returns in march. the treasury can do a lot of moving money around so it probably won't be a crisis until late summer. that's when they'll need an increase to keep the government current on its obli gations, and it's likely to be one of those flash points but if recent history is any indication, they'll go right up to the edge. a lot of nervousness and noise and then raise the debt ceiling....
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Oct 3, 2013
10/13
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raising the debt ceiling is not a concession. it's not a concession to the white house, it's not a concession to wall street. although anyone who knows anything about the markets understands how vital this is. and there's a problem here and that the republican party by being led by a minority of a minority in the overall scheme of government keeps talking like raising the debt ceiling and doing the responsible thing is a concession. they're wrong, the supporters know it's wrong and increasingly a lot of executives and financiers are going to make sure they know it's wrong. >> let me go to you on this point. the president today started up on the debt ceiling, basically using it to trash the republicans and scaring people in the economy. the treasury department issued an incredible statement talking about catastrophic problems and it's going to be worse than it was in the recession of 2008. they're just being negative, they're just trying to scare. boehner countered that with his point today. boehner countered that with a very usef
raising the debt ceiling is not a concession. it's not a concession to the white house, it's not a concession to wall street. although anyone who knows anything about the markets understands how vital this is. and there's a problem here and that the republican party by being led by a minority of a minority in the overall scheme of government keeps talking like raising the debt ceiling and doing the responsible thing is a concession. they're wrong, the supporters know it's wrong and increasingly...
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Sep 24, 2013
09/13
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when it comes to the debt ceiling in my lifetime alone we've approved an increase in the debt ceiling 70 or more times, 70 or more times, 49 times under republican presidents and 18 times under president ronald reagan so somehow approving the debt ceiling it should be a negotiation. >> you can go back -- you can go back. >> these are bills congress has already racked up. >> gramm/rudman to cut spending was done during the debt negotiations, when papa bush unfortunately raised taxes list inge to george mitchell, that was done during the debt ceiling, reagan reforms were done during the debt ceiling and the bush reforms were done during the debt ceiling and the big battle in 2011. michael medved, the days -- what i want to say is the republican party here is being so cautious, they are so afraid, they don't want to shut down the government, that's an up popular position, but regarding shutting down the government and regarding the debt ceiling where is the republican backbone in congress? there are certain issues they are supposed to believe in and this guy cruz, he was elected to shake
when it comes to the debt ceiling in my lifetime alone we've approved an increase in the debt ceiling 70 or more times, 70 or more times, 49 times under republican presidents and 18 times under president ronald reagan so somehow approving the debt ceiling it should be a negotiation. >> you can go back -- you can go back. >> these are bills congress has already racked up. >> gramm/rudman to cut spending was done during the debt negotiations, when papa bush unfortunately raised...
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May 16, 2023
05/23
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ceiling. >> i was going to say also, the resolution to the debt ceiling is being spun as a negative by folks who have already been bearish because they're looking at the aggregates and saying the fed hasn't issued any debt, and it's keeping liquidity in the system look the aggregate mass says to me that's not a reason to be incrementally bearish if we get a resolution on the debt ceiling. positioning and attitudes continue to be the biggest ins police dn installation. some people's version of cautious is owning a ton of bank stocks that's not purely defensive, but it's behaving that way so i still think that we're in this just sort of confused and cautious state, and again, you can't tell me that the market's not reacting to slowdown because in the past month, the s&p's been flat. auto's down 10%. energy down 12%, and banks down 7% we're listening to what's going on just as it isn't reflected in the big cap index. >> so greg, i turn to you. home depot certainly, you know, raised some issues about a possible slowdown with the consumer, the ceo, ted decker saying, quote, a newer dynam
ceiling. >> i was going to say also, the resolution to the debt ceiling is being spun as a negative by folks who have already been bearish because they're looking at the aggregates and saying the fed hasn't issued any debt, and it's keeping liquidity in the system look the aggregate mass says to me that's not a reason to be incrementally bearish if we get a resolution on the debt ceiling. positioning and attitudes continue to be the biggest ins police dn installation. some people's...
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Aug 29, 2017
08/17
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whether it's the debt ceiling issues, debt keeps going up, debt ceiling keeps going up. while all of this is going on, yields are falling and i continue to under score reluctantly it seems as though north korea has a bigger part in that considering the rebound of both equities and to some extent the dollar and rates. >> bond market has been remarkable, to say the least rick, thank you. from one haf haven to another, gold rallying to the highest level. jeff, what do you make of this move here? can it last? >> well, melissa, we are seeing gold go higher and the safe haven trade is on. and the u.s. stock market is unchanged. let's focus on gold. it went above 1330 we're seeing north korea throw the whole market a curveball with this missile launch now we're waiting for the reply by president trump maybe it's to coordinate a response between the you united states as well as japan. what we think we'll see is the fire and fury. >> so you think it's going to go higher >> i do. >> what level are you watching >> melissa, i'm looking at 1433 right now. we have resistance there at
whether it's the debt ceiling issues, debt keeps going up, debt ceiling keeps going up. while all of this is going on, yields are falling and i continue to under score reluctantly it seems as though north korea has a bigger part in that considering the rebound of both equities and to some extent the dollar and rates. >> bond market has been remarkable, to say the least rick, thank you. from one haf haven to another, gold rallying to the highest level. jeff, what do you make of this move...
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Apr 17, 2023
04/23
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>> so i think that it's not about the debt ceiling the debt ceiling is going to get raised we have enough cash flow to pay our interest costs we have a bigger ush issue of prioritization of payments the u.s. economy will be slowing considerably as we go into that july debate and you're attaching yo austerity. that's what you saw happen in 2011 it wasn't about the debt ceiling itself, it was about the austerity attached to it you get a cleanish debt ceiling, it's the boy to cried wolf and you move on. there will likely be some austerity attached to this final bill it's about how much and how much economics are brought into it. >> thanks. we'll see. and revenue coming in roughly in line the interest income grew by 50% during the quarter compared to last year. assets under management as of the end of the quarter down 6% and their balance sheet initiative enabled them to return dividends to shareholders the market not liking this news, off about 8% >> in a defamation trial against fox news, the trial is now scheduled to begin tomorrow instead of this morning. multiple reports say fox is looki
>> so i think that it's not about the debt ceiling the debt ceiling is going to get raised we have enough cash flow to pay our interest costs we have a bigger ush issue of prioritization of payments the u.s. economy will be slowing considerably as we go into that july debate and you're attaching yo austerity. that's what you saw happen in 2011 it wasn't about the debt ceiling itself, it was about the austerity attached to it you get a cleanish debt ceiling, it's the boy to cried wolf and...
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Jan 12, 2013
01/13
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that's what the debt ceiling is all about. and the irony is the 14th amendment argument actually could work both ways. arguably the debt ceiling itself is unconstitutional. because it questions the validity of the national debt. the debt that congress has already racked up. >> no. it questions the appropriateness of raising the debt. that's the issue. jimmy, i want to go here. is there anybody on the republican side who is saying we want to default on the debt? is there anybody on the republican side that says we're not going to raise the debt ceiling? >> no. nobody thinks that's a good idea to default on the debt. going past the debt ceiling i think that's not a great idea. but theoretically there's enough money coming in to pay the debt. you could pay people getting social security. that's really not the point. the point is whether there is at some point are there -- i think there should be actual spending cuts. listen. cut spending today. cut spending tomorrow. but cut spending sometime somewhere. but we're not doing that.
that's what the debt ceiling is all about. and the irony is the 14th amendment argument actually could work both ways. arguably the debt ceiling itself is unconstitutional. because it questions the validity of the national debt. the debt that congress has already racked up. >> no. it questions the appropriateness of raising the debt. that's the issue. jimmy, i want to go here. is there anybody on the republican side who is saying we want to default on the debt? is there anybody on the...
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Feb 2, 2023
02/23
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so we deal with things like the debt ceiling debt ceiling, doesn't matter how much debt we have. and then you have a situation where there is -- used to be a free market supply demand, but now you got the federal reserve who is now taking it, buying it on the balance sheet, so it is not the supply demand. you got that dynamic very, very classically drawing. i don't think people are paying enough attention to the big cycle. there are short-term cycles. since world war ii, they averaged about six or seven years. plus or minus about three years. that's what we're in a classic one of those but we keep building up the debt and then there were issues in terms of the issue of the dollar and what is happening in terms of the world and the value of money. >> you say we're halfway through the cycle. which means there is another half to go, which way does that go you're saying the cycle is up here and you got to go down to here for the cycle to end. >> of course you put up the -- you put on the brakes okay then you bring things down okay, now in this -- each one of these cycles you bring th
so we deal with things like the debt ceiling debt ceiling, doesn't matter how much debt we have. and then you have a situation where there is -- used to be a free market supply demand, but now you got the federal reserve who is now taking it, buying it on the balance sheet, so it is not the supply demand. you got that dynamic very, very classically drawing. i don't think people are paying enough attention to the big cycle. there are short-term cycles. since world war ii, they averaged about six...
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Jul 19, 2019
07/19
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when i first came into office, i asked about the debt ceiling, and i i understand debt ceilings and i certainly understand the highest rated credit ever in history and a debt ceiling and i remember saying to senator schumer and nancy pelosi would anybody ever use that to negotiate with they said absolutely not that's a sacred element of our country. they can't use the debt ceiling to negotiate and don't forget, president obama during his eight yea, he created -- he doubled the debt you think every president, every president if they doubled the debt he doubled the debt, not a million, but a billion but president obama put $10 trillion and doubled the debt it went to 10, it went to 20 it went to even above 20 and some of it was attributed to him. so, when they start talking about using the debt ceiling as a wedge to negotiate or things that they want, they are told very strongly they would never use that that's a very, very sacred thing in our country, the debt ceiling. we can never play with it. so i would have to assume we're in great shape but just remember also the previous administ
when i first came into office, i asked about the debt ceiling, and i i understand debt ceilings and i certainly understand the highest rated credit ever in history and a debt ceiling and i remember saying to senator schumer and nancy pelosi would anybody ever use that to negotiate with they said absolutely not that's a sacred element of our country. they can't use the debt ceiling to negotiate and don't forget, president obama during his eight yea, he created -- he doubled the debt you think...
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Sep 27, 2013
09/13
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ceiling the debt limit, tax policy and regulatory frameworks, it just seems to me the janet yellin announcement is the low hanging fruit. mr. president, it's time to pick it. that will do it for us tonight on closing bell thanks for joining me see you this weekend on the money sunday join us for a special program. stay with cnbc, fast money begins right now. ♪ >> live from the nasdaq markets in times square i'm melissa lee here is tonight's line up facebook yahoo hitting new highs, ibm and cisco drag down the lows. fourth quarter spirits, fractured fed and upcoming job support got you down? your best fourth quarter mix of sing lg malts sure to lift your spirits. and total request friday in the mood for a little zep. no near to fear fast money total request friday is here. our traders tonight are tim seymour, brian kelly. and guy adami. the sixth day of the past seven with declines in the dow and with the fourth quarter kicking off monday how are you trading the d.c. gridlock fed uncertainty and earnings season? guy? >> hi. before we start, that is a righteous -- i mean oh that hair cut looks
ceiling the debt limit, tax policy and regulatory frameworks, it just seems to me the janet yellin announcement is the low hanging fruit. mr. president, it's time to pick it. that will do it for us tonight on closing bell thanks for joining me see you this weekend on the money sunday join us for a special program. stay with cnbc, fast money begins right now. ♪ >> live from the nasdaq markets in times square i'm melissa lee here is tonight's line up facebook yahoo hitting new highs, ibm...
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Feb 14, 2014
02/14
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ceiling -- >> the debt ceiling is a silly thing. congress agrees to appropriations every year and then they vote on the debt ceiling. it's pure politics. it's a way for people to differentiate themselves on the budget they effectively just passed. to me the whole process is a bit an knack row nis tick. >> i would love to continue the conversation. thank you both for joining us. >> thank you. >> see you later. >> because that represents the split to some extent. >> you're right. >> people with the same principles but completely different views. >> reducing spending and raising the debt ceiling, you can reconcile both of those at some point. up 123, losing some altitude right now but still a pretty healthy rally. >>> and coming up, a brewing controversy in sochi as team u.s.'s poor performance in olympic speed skating is being blamed on these suits made by under armour. the olympic team is requesting to switch suits. >>> after the bell, it's him, al franken, senator al franken, the minnesota democrat is firmly against the comcast/time
ceiling -- >> the debt ceiling is a silly thing. congress agrees to appropriations every year and then they vote on the debt ceiling. it's pure politics. it's a way for people to differentiate themselves on the budget they effectively just passed. to me the whole process is a bit an knack row nis tick. >> i would love to continue the conversation. thank you both for joining us. >> thank you. >> see you later. >> because that represents the split to some extent....
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Sep 6, 2017
09/17
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it will be coupled with a push to increase the debt ceiling. unclear how long a raise that would portend. democrats pushes for three months republicans want it to be longer we'll see if there is compromise and what that looks like but of course with the new hurricane approaching, time is of the essence with getting some expeditious action here. >> all right kayla tausche on capitol hill for us paul richards, thank you as well here is what else is coming up >>> the call of the day is next. find out about one analyst's big move on apple. the stock is already up 50% in a year see where this call has the stock going next plus najarians are both seeing unusual activity they each isolate one stock set to move. the "halftime report" is back in two minutes. hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly wit
it will be coupled with a push to increase the debt ceiling. unclear how long a raise that would portend. democrats pushes for three months republicans want it to be longer we'll see if there is compromise and what that looks like but of course with the new hurricane approaching, time is of the essence with getting some expeditious action here. >> all right kayla tausche on capitol hill for us paul richards, thank you as well here is what else is coming up >>> the call of the day...
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Jan 15, 2013
01/13
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he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic standoff between republicans and democr
he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and...
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Jul 15, 2019
07/19
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the debt ceiling unfortunately, as you know, i can't raise the debt ceiling it's congress' job to raise the debt ceiling what i have said, and you know, given the importance of this, we run multiple scenarios of how we predict the government's cash flow i think hopefully everybody would agree that to the extent we want to limit spending, we, congress has the right to limit spending but once we agree to spend money, we have to pay for it and the credit of the united states government is of utmost importance the debt ceiling has to be raised one of our scenarios triggers a problem the first week of september before they get back so i have urged congress to raise it before they leave >> a follow-up - >> i don't see the government shutdown looming again, that's not an issue until the end of september, and i have no expectation there will be a government shutdown. >> is a short term extension, if you're unable to get a longer term deal that would punt until october, is that on the table? and can you describe the nature of your negotiations with speaker pelosi on this issue, reportedly, youha
the debt ceiling unfortunately, as you know, i can't raise the debt ceiling it's congress' job to raise the debt ceiling what i have said, and you know, given the importance of this, we run multiple scenarios of how we predict the government's cash flow i think hopefully everybody would agree that to the extent we want to limit spending, we, congress has the right to limit spending but once we agree to spend money, we have to pay for it and the credit of the united states government is of...
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Jan 19, 2023
01/23
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futures lower head of the opening bell. >>> debt ceiling deadline. the u.s. expected to hit that threshold today and lawmakers nowhere near on the deal. >>> and the crypto contagion continues. the coindesk looking to acsepare from the parent company as it scrambles to stay afloat it is thursday, january 19th, 2023 you are watching "wiorldwide exchange" here on cnbc i'm dominic chu in for brian sullivan it is just around 5:31 a.m. eastern time here is how u.s. stock futures are shaping up as i mentioned, we are off implied lower by 185 s&p down 22. the nasdaq down 66 again, a possible down day to follow-up on yesterday in markets for bonds, yields are lower across the board we are now below 3.4% for the benchmark 10-year treasury yield. currently 3.36%. 2-year treasury is 4.076%. 30-year treasury is 3.53%. every part of the yield curve, maturities lower compared to yesterday. let's hit oil prices as well like the stock market, wti crude below $80. world benchmark ice brent down to $84.30. let's get a check of the top stories with silvana henao >> dom, good mor
futures lower head of the opening bell. >>> debt ceiling deadline. the u.s. expected to hit that threshold today and lawmakers nowhere near on the deal. >>> and the crypto contagion continues. the coindesk looking to acsepare from the parent company as it scrambles to stay afloat it is thursday, january 19th, 2023 you are watching "wiorldwide exchange" here on cnbc i'm dominic chu in for brian sullivan it is just around 5:31 a.m. eastern time here is how u.s. stock...
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May 22, 2023
05/23
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ceiling that made the debt worse. we need to reform the debt ceiling so if you're voting to engage it with some other kind of situation but not with the threat of default, which has become too chaotic for a polarized product to handle. >> we come up with this all the time it creates a cynicism among the governing process among many other things let me turn to you janet yellen said the x date that it will run out of accounting gimmicks that have enabled it so far to keep paying our bills is june 1. but practically ledge igislativ srjt legislatively, isn't it longer than that? what's the date we're looking at here. >> you nailed it, tyler. i think the real deadline forecast june 1 is the x date, then the real deadline is probably the end of this week because once you get an agreement, you do have to write the bill that doesn't happen overnight. that could take a day, two days, and then house republicans especially, they're going to wand 72 hours. there's no vote coming up and congress will be out of session next week. i
ceiling that made the debt worse. we need to reform the debt ceiling so if you're voting to engage it with some other kind of situation but not with the threat of default, which has become too chaotic for a polarized product to handle. >> we come up with this all the time it creates a cynicism among the governing process among many other things let me turn to you janet yellen said the x date that it will run out of accounting gimmicks that have enabled it so far to keep paying our bills...
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Jan 13, 2023
01/23
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ceiling. >> debt ceiling. >> the debt ceiling default, i think that there is a way in normal course to get something done just as we did back in 2011 with obama/biden, but if not, if the resurgents dig in, there is a fail safe what they call break glass way to make this happen. the democrats are already talking about what's called a discharge petition to leverage their numbers in the house and to attract enough republicans to go along with them to get something passed they're already talking about that so i do -- i think we're going to get through this, it's just going to be a lot of drama. >> the journal points out it's weird to have two special prosecutors for what they say are going to be the two presumptive nominees in 2024, joe biden and donald trump do you think donald trump -- you're from virginia, it's a battleground state i don't know what you -- you have a pretty good feel for that >> first of all, i'm from virginia i'm looking at glenn youngkin, right? >> but the journal seemed to assume that -- i thought that after the last election that that was much less -- >> joe, lis
ceiling. >> debt ceiling. >> the debt ceiling default, i think that there is a way in normal course to get something done just as we did back in 2011 with obama/biden, but if not, if the resurgents dig in, there is a fail safe what they call break glass way to make this happen. the democrats are already talking about what's called a discharge petition to leverage their numbers in the house and to attract enough republicans to go along with them to get something passed they're...
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Oct 3, 2013
10/13
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you're wrong. >> and previous debt ceiling -- in previous debt ceiling increases haven't those in the past been used to extract some type of budget agreements? >> reporter: yes. >> that's all they're saying now. >> reporter: no, no. >> take away obama care because they've started shifting away from obama care? us try to maybe bring up entitlements or something. >> reporter: obama will have that conversation but -- >> not till after. >> reporter: joe, no, no hold on. here's the thing. look, you got to -- think about what is reasonable here. we've had months in which republicans have not been willing to go to conference on the budget. they demanded the senate pass the budget. they did. then they said let's go to conference with the house. the house didn't want to do that. remember, the house kind of -- >> why didn't the house want to do it? >> reporter: if you have a protracted negotiation in the conference and goes on for awhile, there is the possibility that the leadership loses control of the floor. if the conference goes on for a certain period of time without resolution, then anyth
you're wrong. >> and previous debt ceiling -- in previous debt ceiling increases haven't those in the past been used to extract some type of budget agreements? >> reporter: yes. >> that's all they're saying now. >> reporter: no, no. >> take away obama care because they've started shifting away from obama care? us try to maybe bring up entitlements or something. >> reporter: obama will have that conversation but -- >> not till after. >> reporter:...
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Oct 9, 2013
10/13
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you may just get the debt ceiling raised. but in the final analysis, the person with the last laugh may be john boehner. he may ultimately get the grand bargain that nobody thought at the beginning of this year was possible, by playing this the way he's played it. he's gotten a lot of criticism for it. >> sort of a mini grand bargain. >> mini. if we start doing entitlement reforms, may not be a grand bargain. but you get entitlement reform and some of these bad elements of obama care repealed like the device tax, it's a pretty big win for the speaker. >> mark hanna, i think it's also a pretty good win for the economy. the economy needs boosting. that's really the key point. and all this talk of a shutdown and a debt default and so forth is not going to boost the economy. it's just the reverse. that's why i think obama left the door open today. i am usually a critic but i looked at that press conference and said, wait a minute, let's parse through this. what is your take on obama's opening and paul ryan's response and sarah fa
you may just get the debt ceiling raised. but in the final analysis, the person with the last laugh may be john boehner. he may ultimately get the grand bargain that nobody thought at the beginning of this year was possible, by playing this the way he's played it. he's gotten a lot of criticism for it. >> sort of a mini grand bargain. >> mini. if we start doing entitlement reforms, may not be a grand bargain. but you get entitlement reform and some of these bad elements of obama...
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Sep 18, 2013
09/13
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but he said raising the debt ceiling doesn't mean that you're raising debt. you say? >> raising the debt ceiling is kind of like lowering the blood alcohol from .1 to .08. it doesn't change anything. the public doesn't want to raise the debt ceiling because they don't want the government spending more money. that's what it is. >> i wonder what the consumer protection agency would think about sending a student with a credit card with $50,000 car with a $50 though limit. would they like it? >> no, they wouldn't. >> all right. thank you very much. >>> we have two hours to go before we get the decision. >>> also, coming up, apple will release the latest version of the operating system. and coming to the "squawk on the street," the new iphones. [ mal] staying warm and dry has never been our priority. our priority is, was and always will be serving you, the american people. so we improved priority mail flat rate to give you a more reliable way to ship. now with tracking up to eleven scans, specified delivery dates, and free insurance up to $50 all for the same low rate. [ w
but he said raising the debt ceiling doesn't mean that you're raising debt. you say? >> raising the debt ceiling is kind of like lowering the blood alcohol from .1 to .08. it doesn't change anything. the public doesn't want to raise the debt ceiling because they don't want the government spending more money. that's what it is. >> i wonder what the consumer protection agency would think about sending a student with a credit card with $50,000 car with a $50 though limit. would they...
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May 9, 2023
05/23
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ceiling -- [ inaudible >> it's the wrong question you have to -- every time we pass a debt ceiling, it's bipartisan his bill doesn't have a single democrat in support and it gets us nowhere because you have to negotiate to get these done what's really troubling about the speaker's position is, it's a -- it's a partisan bill and he says, take it or leave it or we could default. by not taking default off the table, speaker mccarthy is greatly endangering america and making it much harder to make progress on budget negotiations. and so, the bottom line is very, very simple. mitch mcconnell himself has said that the speaker has to come to some kind of agreement with the president. and said that the senate is never going to pass the house bill mcconnell has said that. so, the idea that he passed a partisan bill that has no chance of being signed by the president, and no chance of passing the senate, and instead, uses it, as he said, somebody, one of the reporters asked him, are you going to hold a gun to people's heads you he didn't deny it. he didn't deny it. this is very troubling but
ceiling -- [ inaudible >> it's the wrong question you have to -- every time we pass a debt ceiling, it's bipartisan his bill doesn't have a single democrat in support and it gets us nowhere because you have to negotiate to get these done what's really troubling about the speaker's position is, it's a -- it's a partisan bill and he says, take it or leave it or we could default. by not taking default off the table, speaker mccarthy is greatly endangering america and making it much harder to...
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Oct 6, 2021
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ceiling the debt ceiling was suspended even though we were upset but none of our provisions were considered or included in that tax provision that was entirely passed with republican votes, no democratic votes we're in a similar setting now and it is no surprise, to anyone, who has been serving here in recent months that the bipartisan infrastructure plan was something we called owl work to come to agreement on and the bolder, broader, build back better plan is something that only democrats support >> right but to link one to the other >> a to discuss this with republicans in the senate for months >> but to link one to the other. i think that's where the moderate republicans who signed on and the moderate democrats in the house who have signed on, feel like they got a bill bait and switch situation >> well, becky the record here is that for months, we have been saying, what we can agree on in a bipartisan way out of president biden's agenda is so-called hard infrastructure. and two dozen of us labored for months to get that bipartisan bill done. it was always clear that president biden also
ceiling the debt ceiling was suspended even though we were upset but none of our provisions were considered or included in that tax provision that was entirely passed with republican votes, no democratic votes we're in a similar setting now and it is no surprise, to anyone, who has been serving here in recent months that the bipartisan infrastructure plan was something we called owl work to come to agreement on and the bolder, broader, build back better plan is something that only democrats...
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Aug 3, 2023
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debt ceiling debate. the fact the government haven't been able to come up with meaningful long-term solutions to deal with fiscal issues >> it doesn't matter that much the markets decide, not the ratings, to make the decisions number two, they point out the debt ceiling crisis and things likes that number three, the american public, this is the most processed nation on the planet there are countries rated higher than us at aaa, but they live under the enterprise american military system. that is ridiculous >> so, that was richard francis from fitch on cnbc talking about the strip of the aaa rating and then jpmorgan chase's ceo jamie dimon saying he disagrees with the decision and the market is not taking the fitch downgrade. the s&p with the worst day since april. bond yields with the 10- 20- and 30-year bonds hitting the lowest level since last november. let's talk to janet and joanna ladies, thank you for being here maybe janet, we start with a bigger picture here with you i'm curious how much you think
debt ceiling debate. the fact the government haven't been able to come up with meaningful long-term solutions to deal with fiscal issues >> it doesn't matter that much the markets decide, not the ratings, to make the decisions number two, they point out the debt ceiling crisis and things likes that number three, the american public, this is the most processed nation on the planet there are countries rated higher than us at aaa, but they live under the enterprise american military system....
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Sep 25, 2013
09/13
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ceiling in time to prevent any default on the debt. if that's true, then by the end of this month, by october 30th, when the fed next meet, you'll have a lot of this problem behind you, plus you have good housing numbers this morning, plus you'll get a good jobs report for the month of september. so overall, i still think we're probably moving towards the argument for phasing out qe despite what's going on in washington this week. >> in october, david? >> that's what i would have done, before september. >> okay. >> but i don't want to make that prediction given how dovish they've been so far. >> okay, diane, that's interesting. because if anything, more and more the rhetoric out of washington seems to be, okay, we'll get to a resolution on this piece of it, to keep the government funded through mid-november. the real fight happens around the debt ceiling which may fall october 24th, or earlier, because jack lew said yesterday tax receipts over the summer were weaker than anticipated. if that's the big fight, i'd be surprised if the fed
ceiling in time to prevent any default on the debt. if that's true, then by the end of this month, by october 30th, when the fed next meet, you'll have a lot of this problem behind you, plus you have good housing numbers this morning, plus you'll get a good jobs report for the month of september. so overall, i still think we're probably moving towards the argument for phasing out qe despite what's going on in washington this week. >> in october, david? >> that's what i would have...
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Jan 28, 2013
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. >> that being the debt ceiling. >> the debt ceiling is a big issue. the fiscal cliff was a big issue on the tax side. we've extended the debt ceiling to may. that really could be july. i don't know that they represent the risks that a lot of people thought was represented in august 2011 heading into it. we realize hindsight, yields did not spike dramatically. we didn't get a massive number of investors whether it was institutions, pension funds that were forced out of treasuries. because of that aaa rating gone. i think we learned some lessons. but i still think unfortunately washington and the ranker and the political system remains one of them. >> it sounds you're not as worried about washington. >> we're sadly becoming immune to their antics. >> we'll leave it there. good to see you. thank you so much. >>> about ten minutes to go before we close it up on monday on wall street here. dow jones industrial average still hanging in just below 13,900. >>> well, it has been the feud that continues to be the buzz on wall street. >> and in 2003 i get a call
. >> that being the debt ceiling. >> the debt ceiling is a big issue. the fiscal cliff was a big issue on the tax side. we've extended the debt ceiling to may. that really could be july. i don't know that they represent the risks that a lot of people thought was represented in august 2011 heading into it. we realize hindsight, yields did not spike dramatically. we didn't get a massive number of investors whether it was institutions, pension funds that were forced out of treasuries....
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Jan 11, 2013
01/13
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the debt ceiling, we're the only country on ert with a debt ceiling. there are other countries that have controls, including debt-to-gdp. debt as a percentage of the economy requirement but we're the only one that has a debt ceiling. the debt ceiling is really dealing with, you know, hows that have already been passed, apropose riegss that have already been made, ultimately what we need to do is achieve a grand bargain where we get rid of the debt ceiling. we substitute statutory budget controls and i would argue a constitutional debt as a percentage of the economy limit. >> saying you could never go beyond -- >> that's right. >> what percent would that be? >> 120% of gdp, 100%. public debt we're about 75. total debt we're over 100 already. so depends on how you want to count it. let's recognize what it is. on the other hand, spending is a huge problem. we're going to have to reform social insurance programs. we're going to have to do a better job of controlling health care costs. we're going to have to engage in comprehensive tax reform. yes, we're go
the debt ceiling, we're the only country on ert with a debt ceiling. there are other countries that have controls, including debt-to-gdp. debt as a percentage of the economy requirement but we're the only one that has a debt ceiling. the debt ceiling is really dealing with, you know, hows that have already been passed, apropose riegss that have already been made, ultimately what we need to do is achieve a grand bargain where we get rid of the debt ceiling. we substitute statutory budget...
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Jan 14, 2013
01/13
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negotiate on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so as you say now that you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one-minute to midnight scenario that you're not going to back down? >> well, first of all, julianna, let's take the example of this year in the fiscal cliff. i didn't say i wouldn't have any conversations about extending the tax cuts. what i said was we wouldn't extend bush tax cuts for the wealthy and we didn't. you could argue during the campaign i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is, millionaires, billionaires, are paying significa ining signific taxes just like i said. from the start my concern was making sure that we had a tax code that was fair and that protected the middle class. and my biggest priority was making sure that middle class taxes did not go up. t
negotiate on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so as you say now that you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one-minute to midnight scenario that you're not going to back down? >> well, first of all, julianna, let's take the example of this year in the fiscal cliff. i didn't say i wouldn't...
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Apr 24, 2023
04/23
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ceiling >> it is certainly -- the debt ceiling is why the market is getting nervous, the treasury market, understandably so. and as you know, all kinds of exotic, sometimes wild suggestions have been made to avoid what shouldn't be a problem at all i mean, the best is for congress just to raise the national debt ceiling as they've done in times in the past. the sense of my piece in "the wall street journal" was, if worse comes to worse, and it would be worse, the president will be faced with two conflicting laws and have to presumably obey one and disobey the other. >> so talk about the laws and how he could potentially get this done. i know you're not a constitutional lawyer, but clearly as an economist, it's front and center. >> absolutely. so, the one law, the obvious law, the budget, which is usually more than one law, specifies amounts of spending and taxation and implies a certain deficit for this year as it does for any year that's one law, which congress has already passed, obligating the federal government to meet certain -- a whole list of obligations. the other is the national
ceiling >> it is certainly -- the debt ceiling is why the market is getting nervous, the treasury market, understandably so. and as you know, all kinds of exotic, sometimes wild suggestions have been made to avoid what shouldn't be a problem at all i mean, the best is for congress just to raise the national debt ceiling as they've done in times in the past. the sense of my piece in "the wall street journal" was, if worse comes to worse, and it would be worse, the president will...
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Aug 16, 2012
08/12
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fiscal cliff is one think but there's a debt ceiling. the debt ceiling comes in play the lower the growth. the lower the gdp falls. the economists have been wrong. i expect them to be wrong. growth will come in lower and debt ceiling comes sooner. >> let's talk about apple may be on the verge of wage agnew war in the battle for your living room. there are reports that the company is in talks with cable operators about a apple set top box for live tv. let's welcome in manage partner at tech. >> this is old news. these talks have been going on for over a year. what we have in terms of the apple tv sprut an existing box, set top box that apple has already sold 4 million of this year. it's not new news. what is news is the fact that apple is now willing to consider partnering with cable rather than fighting them and setting up their own television eco system. steve jobs had it wrong when he told walter isakson and practiced cracking the television code by coming up with a tv set. it's going to be apple operating system, the ois that makes te
fiscal cliff is one think but there's a debt ceiling. the debt ceiling comes in play the lower the growth. the lower the gdp falls. the economists have been wrong. i expect them to be wrong. growth will come in lower and debt ceiling comes sooner. >> let's talk about apple may be on the verge of wage agnew war in the battle for your living room. there are reports that the company is in talks with cable operators about a apple set top box for live tv. let's welcome in manage partner at...
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Oct 10, 2013
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service since 1978, congress has voted to raise the debt ceiling 53 times, 27 of those or 51%, the debt limit increase of tied to other reforms. i assume you're aware that more often than not the debt ceiling is raised with other policy or reforms. if you're so aware of that history, why do you and president obama continue to use the talking point that negotiating on a debt limit bill is unprecedented when the facts demonstrate otherwise? >> well, senator, i don't think that is an accurate version of history, certainly not what i recall, having lived through many of the budget debates overs last 39 years. overly three of them have involved the debt limit. it's not the case that most budget agreements involve the debt limit. if you look at those that did involve the debt limit, several of them the dealt limit was just added on to a bill. it was not driving the debate. what i think changed in 2011 is the affirmative case was made in 2011 that a certain faction -- i'm not saying it's people in this room but if a certain faction did not get their way -- that's not how our democratic system
service since 1978, congress has voted to raise the debt ceiling 53 times, 27 of those or 51%, the debt limit increase of tied to other reforms. i assume you're aware that more often than not the debt ceiling is raised with other policy or reforms. if you're so aware of that history, why do you and president obama continue to use the talking point that negotiating on a debt limit bill is unprecedented when the facts demonstrate otherwise? >> well, senator, i don't think that is an...